Monthly Economic Indicators

This monthly report provides a snapshot of metro area economic activity in labor and employment, the consumer sector, and residential and commercial real estate.

October 2016 pdf Download Full Report PDF Download Snapshot

Monthly Economic Indicators

The Manpower Employment Outlook Survey expects fourth quarter 2016 hiring in the Denver-Aurora MSA to increase from the prior quarter’s level, with the percentage of companies expecting to expand their employment levels rising 3 percentage points to 28 percent. 

The unemployment rate throughout the Metro Denver area decreased between July and August, falling 0.3 percentage points to a 3.1 percent unemployment rate. The Metro Denver unemployment rate was also 0.2 percentage points below the August 2015 level of 3.3 percent. 

Residential building permits for the Metro Denver area recorded a 7 percent increase in total permits issued between August 2015 and 2016, with the over-the-year increase in total permits attributed to a 23.7 percent increase in single-family detached permits. 

Economic Indicators October 2016 Year-Over-Year 2016 YTD

Nonfarm Employment Growth

+400 No change

Employment unchanged from July to Aug.

+51,100 Increase

Employment up 3.2% from Aug. 2015 to 2016

+47,900 Increase

YTD employment up 3.1% through Aug.

% Companies Hiring (Denver Area)

28 % Increase

Companies expecting to add workers rose 3 percentage points from 3Q 2016 to 4Q 2016

28 % Increase

Companies expecting to add workers rose 9 percentage points from 4Q 2015 to 4Q 2016

25 % Increase

YTD average up 3 percentage points compared with 2015

Unemployment Rate

3.1 % Decrease

Unemployment was down 0.3 percentage points from July to Aug.

-0.2 percentage points Decrease

Unemployment rate down from Aug. 2015 to 2016

3.3 % Decrease

Down from 2015 YTD average of 4.0%

Initial Unemployment Insurance Claims

3.8 % Increase

Claims increased from July to Aug.

-7.8 % Decrease

Claims decreased from Aug. 2015 to 2016

-3.3 % Decrease

YTD average claims decreased through Aug. 2016

Total Retail Sales

-1.1 % Decrease

Metro sales decreased from Jan. to Feb.

1.3 % Increase

Metro sales up from Feb. 2015 to 2016

-2.8 % Decrease

YTD sales down through Feb. 2016

Consumer Confidence Index

106 Decrease

Index down 3.9% from Aug. to Sept.

-5.4 % Decrease

Index down from Sept. 2015 to 2016

100.8 Decrease

YTD average down 9.3% through Sept. 2016

Hotel Occupancy

86.2 % Decrease

Decreased 1.5 percentage points from July to Aug.

0.9 percentage points Increase

Occupancy increased from Aug. 2015 to 2016

77.1 % Decrease

YTD occupancy down 1.7 percent from last year

DIA Passengers

5.1 % Increase

Passengers up from June to July

9.1 % Increase

Passengers up from July 2015 to 2016

7.2 % Increase

YTD passengers increased through July 2016

Bloomberg Colorado Index

519.5 Increase

Index up 1.5% from Aug. to Sept.

-6.5 % Decrease

Index down from Sept. 2015 to 2016

4.5 % Increase

YTD return through Sept. 2016

Dow Jones / Industrial Average

18,308.2 Decrease

Index down 0.5% from Aug. to Sept.

12.4 % Increase

Index up from Sept. 2015 to 2016

5.1 % Increase

YTD return through Sept. 2016

Home Sales (Closed)

5,886 Decrease

Sales down 8.9% from June to July

-16.6 % Decrease

Sales down from July 2015 to 2016

33,952 Decrease

YTD sales down 4.9% through July 2016

Median Home Price (Denver-Aurora MSA)

$394,400 Increase

Up 6.9% from 1Q 2016 to 2Q 2016

8.7 % Increase

Price up from 2Q 2015 to 2Q 2016

$381,700 Increase

YTD price 8.9% higher through 2Q 2016

Foreclosures

269 Increase

Up 30% from July to Aug.

-4.3 % Decrease

Down from Aug. 2015 to 2016

2,170 Decrease

Down 11% YTD through Aug. 2016

Residential Building Permits (Total)

1,608 Increase

Permits increased 9.7% from July to Aug.

7 % Increase

Permits up from Aug. 2015 to 2016

13,724 Increase

YTD permits up 16% through Aug. 2016

Apartment Vacancy Rate

5.4 % Decrease

Vacancy decreased 0.7 percentage points from 1Q 2016 to 2Q 2016

0.9 percentage points Increase

Vacancy increased from 2Q 2015 to 2Q 2016

5.8 % Increase

YTD average up 1.1 percentage points from last year

Office Vacancy Rate (with Sublet)

10 % Increase

Vacancy rate up 0.3 percentage points from 2Q 2016 to 3Q 2016

-0.4 percentage points Decrease

3Q 2016 vacancy rate down from 10.4% one year ago

-0.4 percentage points Decrease

3Q 2016 vacancy rate down from 10.4% one year ago

Industrial Vacancy Rate (with Sublet)

3.7 % Increase

Vacancy rate up 0.2 percentage points rom 2Q 2016 to 3Q 2016

+0.8 percentage points Increase

3Q 2016 vacancy up from 2.9% one year ago

+0.8 percentage points Increase

3Q 2016 vacancy up from 2.9% one year ago

Retail Space Vacancy Rate (with Sublet)

4.8 % Decrease

Vacancy rate down 0.1 percentage point from 2Q 2016 to 3Q 2016

-0.3 percentage points Decrease

3Q 2016 vacancy rate down from 5.1% one year ago

-0.3 percentage points Decrease

3Q 2016 vacancy rate down from 5.1% one year ago

Economic Indicators October 2016 Year-Over-Year 2016 YTD